Magical Credit offers Bad Credit, Installment Loans in PEI. Apply Today!

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Fixed Interest Installment Loans in PEI

Credit cards come with hidden fees and surcharges. You use your card responsibly, yet still get charged an arm and a leg every time you pay your bill.

Magical Credit’s loan installments have a fixed monthly interest rate of 3.9%. You won’t be financially blindsided and you can plan your budget accordingly! Our open loans can be paid off early – you’ll only be charged interest to date, and not for the whole term.

Our short-term, personal loan calculator schedules your installment loan payments, helping you stick to your budget.

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

When to Apply for a Personal Installment Loan in PEI

Auto RepairIf your brakes aren’t up to snuff, it’s a matter of personal safety. If you’re low on funds, don’t rack up credit card debt—just take out an installment loan from Magical Credit to cover the repair costs.

VacationsYou’ve sailed every shore along the Maritimes, and it’s time to explore your horizons. Even if you’re hurting for money, you still deserve a break. Magical Credit’s simple installment payments will make your getaway easy to pay off!

Job HuntingThey say searching for a job is a full-time job in itself—except you aren’t getting paid. Take out an installment loan to cover the costs of networking, dinner meetings, classes, outfits, and transportation, as you embark on your journey to a new career!

Debt ConsolidationIt’s easy to lose track of multiple consumer debts. Take out a Magical Credit loan for debt consolidation in PEI, and focus on one easy-to-track monthly installment payment!

Installment Personal Loans in PEI - Frequently Asked Questions

How will I benefit from an installment loan from Magical Credit?

 

  • Fixed interest rates mean predictable monthly payments (Ours is 3.9% monthly)
  • No surcharges or hidden fees
  • Small affordable monthly payments are easy to make
  • Instant approval process

 

 

Can I be considered for a personal installment loan online if I have bad credit and low monthly income?

Yes. As a high-risk lender, Magical Credit specializes in loans for bad credit applicants and low-income households. Instead of weighing our applicants based on their credit score, we assess their overall report of credit, discharged or current bankruptcies, and loan repayment history.

Can I apply for $870 loan? That’s what I need to cover my hydro bill.

Yes, because our loans range anywhere between $500-$10,000!

Can I still apply for Magical Credit’s installment loans in Charlottetown?

Yes—our loans are available anywhere online in Canada, other than Manitoba and Quebec!

Why don’t I apply for a payday loan?

When you’re accepted for a payday loan, you risk being charged an interest rate of $30 per $100 borrowed. Magical Credit only charges a fixed interest rate of 3.9% monthly.


Need an emergency loan, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our short-term, personal loan calculator!

Our loans are considered short-term loans and have up to a 12-24 month term with an interest rate of 3.9% per month.
Loan Example
Term
1 Year
APR
56.50%
Amount
$2,000.00
Fees
$194.00
Interest Rate (46.8%)
$936.00
Total Cost of Borrowing
$1,130.00
Total Due End of Term
$3,130.00
NOTE: You can pay off your loan at any time with no penalty.
You will only pay interest up to the date you borrow it.
Terms and Conditions: (APR 23% min - 59.7% max) Loan amortization is between 12-24 months. Loan must be paid in full by the end of term, no extensions or exceptions, no automatic renewals. Failure to pay your debt on time with impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureau.